Shares In One Of America's Largest Solar Operators Are Surging (SUNE, SCTY)

Thursday

Aug 7, 2014 at 4:26 PM

Rob Wile

Shares in SunEdison, one of America's largest solar panel systems operators, were up as much as 12% today after reporting an unexpected quarterly profit Thursday.

The Missouri-based company also said its project pipeline increased 19%. They recently announced the acquisition of the largest solar plant in Colorado.

The firm posted adjusted Q2 profits of $33.7 million, or 12 cents a share for the quarter ended against an expected loss of 26 cents according to a Bloomberg survey. Bloomberg's Chris Martin points out SunEdison is the best-performing solar stock of 2014, having climbed nearly 40%.

SolarCity, which reports after the bell Thursday, were up about 4% heading into the close.

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